MakeMyTrip quarterly revenue jumps on booming travel demand
The travel service provider reported a 26.2% rise in its third quarter revenue and a rise in profit to $27.1 million.
Travel service provider on Thursday said its revenue in the third quarter of fiscal 2025 jumped by over a fourth, bolstered by travel demand in the country.
The company reported a 26.2% rise in its third quarter revenue to $267.4 million compared to $214.2 million in the year-ago period.
The majority of the revenue generated was primarily due to an increase in revenue from the company’s air ticketing business. The company saw a rise in revenue across all its product segments, including hotels and packages, and bus ticketing.
The hotels and packages segment, MakeMyTrip’s biggest segment in terms of revenue generation, reported a 17.2% rise revenue to $147.1 million during the quarter. This was supported by a rise in gross bookings which increased by 21.9% in Q3.
Additionally, the company also saw its profits rise to $27.1 million as opposed to $24.2 million in Q3 FY24.
“The Indian travel and tourism sector is witnessing robust growth, reflecting a strong desire among travelers
to explore new horizons. While Indian destinations continue to shine, many countries have made significant
efforts to attract Indian travelers. Our strong performance this quarter reflects these macro trends, along
with our focused execution and commitment to customer centricity,” said Rajesh Magow, CEO at MakeMyTrip.
The company, which is listed on US stock exchanges, comprises of travel brands such as Goibibo and travel bus aggregator redBus.
During the third quarter, the company’s subsidiary, MakeMyTrip Pvt Ltd, acquired travel and expense management business HAPPAY for $11.7 million from CRED. The deal is expected to close during the fourth quarter of FY25.
This acquisition is expected to boost MakeMyTrip’s footprint in the travel and expense management sector which aligns with its strategy to offer end-to-end solutions for businesses.
Edited by Jyoti Narayan